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Amata Corporation, Thailand’s biggest industrial estate developer, is expecting its operation in Vietnam will cash in hugely this year as one of its three industrial park projects here is almost ready for investors.

Somhatai Panichewa, the group’s president and chief executive, told Bangkok Post that it expects revenues from the Vietnam subsidiary to reach 1.4 billion baht (US$39.23 million) this year, 75 percent up from last year.

The revenue is expected to come from the industrial
estate in Dong Nai’s capital town Bien Hoa, where 960,000 square meters
or 92 percent of the park’s area will be up for sale to
investors soon, she said in the report.

The company already made $5.6 million in the first quarter selling its land at the park.

Amata Vietnam has also been licensed to develop an industrial estate in the northern province of Quang Ninh and another in Dong Nai, which neighbors Ho Chi Minh City.

Somhatai said Amata Vietnam is also engaging in negotiations to sell up to half of its 80 million square meters of land in Vietnam to a Japanese investor. The transfer is expected to happen in the third quarter this year.

Amata has invested in Vietnam for nearly 20 years. The company expected that positive economic growth in Vietnam, which has been forecast at 6.3 percent this year, will continue luring industrial investors to the country.